Superior Gold Inc. Announces Third Quarter 2017 Financial and Operating Results

Superior Gold Inc. (“Superior Gold” or the “Company”) (TSX.V:SGI) announced today its financial and operating results for the third quarter of 2017. This release should be read in conjunction with the Company’s Management Discussion and Analysis (MD&A) and unaudited condensed consolidated interim financial statements for the third quarter ended September 30, 2017.
As quoted in the press release:

Chris Bradbrook, President and CEO of Superior Gold stated: “We are pleased to announce our second highest quarterly production at the Plutonic Gold Mine since acquiring the operation in October 2016. For the first nine months of 2017 we have produced 59,946 ounces of gold and are on track to meet our annual production guidance of between 75-80,000 ounces of gold for 2017. During the quarter total cash costs and all-in sustaining costs were significantly lower at $889 per ounce and $969 per ounce respectively, compared to the second quarter at $970 and $1,078 respectively.
This quarter we reported record revenue of $26.7 million. We continued to generate free cash and increase our cash position, at the same time as we commenced capital expenditure at Hermes. The Company has the liquidity available to fund the development of our near term projects and exploration programs. Development at our Hermes project continues to progress and during the quarter the initial development of the haul road commenced. In October, pre-stripping operations were initiated at Hermes’ Trapper pit, which is expected to supply initial mill feed by year end.
We look forward to continuing to build on these positive results we have achieved to date, with a continued focus on cost control and building shareholder value. All future capital and exploration expenditures will be aimed at supporting the long-term generation of free cash.”

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